KBC Group NV Acquires 206,466 Shares of Solventum Co. (NYSE:SOLV)

KBC Group NV raised its stake in shares of Solventum Co. (NYSE:SOLV) by 725.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 234,933 shares of the company’s stock after purchasing an additional 206,466 shares during the period. KBC Group NV’s holdings in Solventum were worth $15,520,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Trian Fund Management L.P. boosted its holdings in Solventum by 32.9% during the 3rd quarter. Trian Fund Management L.P. now owns 7,126,255 shares of the company’s stock worth $496,842,000 after acquiring an additional 1,765,676 shares during the last quarter. State Street Corp increased its stake in Solventum by 3.1% in the 3rd quarter. State Street Corp now owns 6,107,550 shares of the company’s stock valued at $425,818,000 after buying an additional 185,938 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Solventum by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,347,719 shares of the company’s stock worth $232,608,000 after buying an additional 128,317 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Solventum during the third quarter worth $125,488,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Solventum by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,053,771 shares of the company’s stock worth $73,469,000 after purchasing an additional 3,745 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Solventum from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Morgan Stanley raised their price target on shares of Solventum from $60.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Mizuho began coverage on Solventum in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price objective on the stock. Finally, Stifel Nicolaus assumed coverage on Solventum in a research report on Tuesday, October 8th. They issued a “buy” rating and a $82.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.29.

Solventum Price Performance

Shares of NYSE SOLV opened at $74.88 on Wednesday. The stock’s 50-day moving average is $69.72 and its 200 day moving average is $66.74. Solventum Co. has a 1-year low of $47.16 and a 1-year high of $96.05. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Solventum (NYSE:SOLV) last issued its earnings results on Thursday, November 7th. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.23). The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. On average, equities research analysts expect that Solventum Co. will post 6.58 earnings per share for the current fiscal year.

About Solventum

Solventum Corporation, a healthcare company, engages in the developing, manufacturing, and commercializing a portfolio of solutions to address critical customer and patient needs. It operates through four segments: Medsurg, Dental Solutions, Health Information Systems, and Purification and Filtration.